Search found 381 matches

by thethinker
Tue Mar 26, 2024 1:57 pm
Forum: Personal Investments
Topic: Taxable account investment help
Replies: 11
Views: 1267

Re: Taxable account investment help

We invested some money in a friend’s small business to help during Covid and while we have enjoyed some interest over the years we were paid back in full with an unexpected extra return. Additionally we inherited some extra money very recently and we now have roughly $100k. We liked the idea of investing in small businesses so we don’t want all this money to go into tax advantaged accounts and lose access to it. We’d like to keep it in a taxable account but we won’t know if this money will stay in this account more or less than a year which might complicate some answers below. Our current and next years tax bracket projects to be the upper end of the 12% bracket and thus, 0% for long term capital gains. And Pennsylvani state tax. We get co...
by thethinker
Tue Mar 26, 2024 1:57 pm
Forum: Personal Investments
Topic: Taxable account investment help
Replies: 11
Views: 1267

Re: Taxable account investment help

So you’re going to have $100k in a taxable account for maybe less than a year? Hard to do much investing with potentially that short of a time horizon. Maybe I should have phrased this differently. My question should have more specifically asked the best place to put this money. I didn’t mean to make it sound as though this money needs to be invested for retirement accounts. But as I don’t have a timeframe for using the money, I thought it would be wise to earn some returns on it until I choose to use it for other purposes. It's harder to invest without knowing the time horizon. For instance, if the money would be truly needed in a year (or two), then something like stock index funds would be (most likely) inappropriate, and something like...
by thethinker
Tue Mar 26, 2024 6:23 am
Forum: Personal Investments
Topic: Taxable account investment help
Replies: 11
Views: 1267

Re: Taxable account investment help

Living Free wrote: Mon Mar 25, 2024 9:13 pm So you’re going to have $100k in a taxable account for maybe less than a year? Hard to do much investing with potentially that short of a time horizon.
Maybe I should have phrased this differently. My question should have more specifically asked the best place to put this money. I didn’t mean to make it sound as though this money needs to be invested for retirement accounts. But as I don’t have a timeframe for using the money, I thought it would be wise to earn some returns on it until I choose to use it for other purposes.
by thethinker
Mon Mar 25, 2024 9:07 pm
Forum: Personal Investments
Topic: Taxable account investment help
Replies: 11
Views: 1267

Taxable account investment help

We invested some money in a friend’s small business to help during Covid and while we have enjoyed some interest over the years we were paid back in full with an unexpected extra return. Additionally we inherited some extra money very recently and we now have roughly $100k. We liked the idea of investing in small businesses so we don’t want all this money to go into tax advantaged accounts and lose access to it. We’d like to keep it in a taxable account but we won’t know if this money will stay in this account more or less than a year which might complicate some answers below. Our current and next years tax bracket projects to be the upper end of the 12% bracket and thus, 0% for long term capital gains. And Pennsylvani state tax. We get com...
by thethinker
Tue Feb 27, 2024 7:21 am
Forum: Personal Finance (Not Investing)
Topic: Why not convert all my funds to ETFs?
Replies: 59
Views: 6302

Re: Why not convert all my funds to ETFs?

billaster wrote: Mon Feb 26, 2024 10:54 pm There is no evidence that the lower expense ratio ends up in your pocket. There are trading costs that are not included in the expense ratio that may offset that expense ratio difference.

Choose ETFs or mutual funds based on which is more convenient for you, not a performance difference.
I didn’t realize the ER wasn’t accounting for some fees/trading costs. As I only rebalance once per year, and some years not at all, my trading costs should be very low, but I still am glad you shared because that likely makes the expenses of each much closer to one another
by thethinker
Tue Feb 27, 2024 7:18 am
Forum: Personal Finance (Not Investing)
Topic: Why not convert all my funds to ETFs?
Replies: 59
Views: 6302

Re: Why not convert all my funds to ETFs?

murrays wrote: Mon Feb 26, 2024 10:34 pm I prefer funds since it’s fewer steps to move money between them/rebalance.
its really easy to exchange funds when I rebalance each year. Are you saying VG doesn’t allow for an easy exchange of their ETFs when rebalancing?
by thethinker
Mon Feb 26, 2024 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Why not convert all my funds to ETFs?
Replies: 59
Views: 6302

Why not convert all my funds to ETFs?

Can someone help me understand what I must be missing…

The ETFs for a boglehead 3 fund portfolio all have a lower ER than their corresponding admiral mutual funds. Granted the ER for them all are so small and the difference between the fund and ETF is very tiny, but it’s still an amount I’d rather keep in my account.

So why don’t all BH’s switch exclusively to ETFs ? What am I missing.

For my situation personally it’s 3 funds, which I manually rebalance once per year. All inside a tax advantage account. Should I be switching to all ETFs????
by thethinker
Mon Feb 26, 2024 9:20 pm
Forum: Personal Investments
Topic: Can I simultaneously exchange VFIAX for VOO?
Replies: 5
Views: 949

Can I simultaneously exchange VFIAX for VOO?

In my Roth at VG I have VFIAX and it occurred to me that VOO has a slightly lower ER. While it’s such a tiny difference and unlikely to be noticed decades from now, I still see no reason not to use the lowest ER available for the same fund.

But when I tried to exchange my VFIAX for VOO it will not list VOO as a viable exchange option. It appears as if I can only exchange VFIAX for another mutual fund.

Has anyone successfully exchanged a fund for an ETF and if so, please explaining how.
by thethinker
Sat Feb 10, 2024 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Can I borrow from my Roth without penalty?
Replies: 8
Views: 1208

Can I borrow from my Roth without penalty?

I have my Roth IRA and Vanguard.
There is a promotion being offered at my bank which will give me a considerable monetary bonus if I keep a certain amount of cash in their money market account for 60 days minimum. I’d rather not sell any investments, so is there a way for me to take some money out of my ROTH, for a few months, and then put all the money back without penalty. I would like to remove 50k and I’ve contributed more than that amount into my Roth over the years.

Would someone let me know if this is possible and if so, would you please direct me as to the steps I’d need to take?
by thethinker
Tue Jan 02, 2024 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Tax info for VG Settlement Fund?
Replies: 5
Views: 725

Tax info for VG Settlement Fund?

Roughly when should I expect vanguard to make available the information I need to file my taxes on the interest I’ve earned in their settlement fund. It will be significant enough interest that will require taxes be paid. But this is my first year using the settlement fund due to the high rates being offered.
Does anyone know when they usually issue such a document?
by thethinker
Tue Dec 05, 2023 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Can/Should I open a Solo Retirement Account?
Replies: 8
Views: 770

Re: Can/Should I open a Solo Retirement Account?

sophie1 wrote: Fri Dec 01, 2023 9:33 am
I just know that for a 401K, this is limited to 20% of net business income. When I was earning a lot of side income, I did that and then contributed the remaining 80%, reducing my employment contributions to stay under the 401K limits.
Would you explain this in a bit more detail please? What 401k limit were you staying under? The $250k threshold of having to file a 5500EZ form? And can you explain more how you did this ?
by thethinker
Fri Dec 01, 2023 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Can/Should I open a Solo Retirement Account?
Replies: 8
Views: 770

Re: Can/Should I open a Solo Retirement Account?

Are there any noteworthy differences between the two or does it not really matter?
by thethinker
Fri Dec 01, 2023 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Can/Should I open a Solo Retirement Account?
Replies: 8
Views: 770

Can/Should I open a Solo Retirement Account?

I had my own side business for awhile and had a Solo 401k for many years. That work ended during the pandemic and I was told that I should roll the money to my current employer’s plan (offering low rate funds) so I did that in Dec of 2022. I’m no wishing I didn’t but that’s a different topic. I began generating some extra 1099 income in 2023 and it’s not substantial but I should make close to $20k by the end of the year and likely another $15k next year with the possibility of continuing in future years. It’s my understanding that I need to wait a full year before opening another solo 401k and that might also be true for a SEP ira. So I won’t be able to act on any of this advice for 10 more days, but I want to be ready for that when the tim...
by thethinker
Tue Oct 31, 2023 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Can I fully fund my new i401k?
Replies: 7
Views: 886

Re: Can I fully fund my new i401k?

BolderBoy wrote: Tue Oct 31, 2023 2:10 pm
thethinker wrote: Tue Oct 31, 2023 8:27 amIs a solo or individual 401k better than SEP IRA? And if I open it today, will I still be able to fund the retirement account with all my 2023 income...
Yes (usually) and Yes.

I'm making an assumption about what you mean by "with all my 2023 income". I'm presuming you mean "can I fund the retirement account based on all my 2023 income.
You’re correct to assume that but technically I meant based on my 2023 independent contractor income.


Do you have any thoughts on opening the i401k Vs SEP?
by thethinker
Tue Oct 31, 2023 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Can I fully fund my new i401k?
Replies: 7
Views: 886

Re: Can I fully fund my new i401k?

life in slices wrote: Tue Oct 31, 2023 9:34 am I've been managing my wife's solo-401k for the last 5 years and it has been too difficult overall
Did you mean, has Not been too difficult?
by thethinker
Tue Oct 31, 2023 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Can I fully fund my new i401k?
Replies: 7
Views: 886

Can I fully fund my new i401k?

I have been working as an independent contractor all year but I have not had any specific retirement accounts set up for this job. It’s not an extensive amount of work and brings in about $15-$20k gross in a year. But I considered opening a retirement plan. Is a solo or individual 401k better than SEP IRA? And if I open it today, will I still be able to fund the retirement account with all my 2023 income, or only the income earned after the plan opens?
by thethinker
Thu Oct 19, 2023 8:34 am
Forum: Investing - Theory, News & General
Topic: Buy I-Bonds today or wait 2 weeks?
Replies: 9
Views: 1792

Buy I-Bonds today or wait 2 weeks?

In this instance, what’s the better strategy relating to the purchase of new I Bonds? Is it better to capture what October rates are offered today or wait and chance that November will offer better rates for the first 6 months?
by thethinker
Thu Aug 17, 2023 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Bank loan or TSP loan?
Replies: 4
Views: 582

Re: Bank loan or TSP loan?

If a portion of your tsp is currently in the g fund, then getting a tsp loan up to the amount of that g fund would not be an issue since you are essentially paying yourself back the interest and if I recall, TSP loan payments go back into the account into the g fund. (Double check that last statement). If your loan is taking money out of stock funds then I probably would not do it and stay invested in the market. However, you would want to decrease your g fund by the amount of the loan and move that one of the other funds, to keep those funds invested in the market, so once the loan is repaid your g fund has been re-established. I currently have all money in a L-Fund, but in this case I could just build an L Fund myself with CSIFG, then I’...
by thethinker
Wed Aug 16, 2023 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Bank loan or TSP loan?
Replies: 4
Views: 582

Bank loan or TSP loan?

I’ve been gathering helpful information regarding a possible TSP loan, though it is something I have never utilized. And while there’s a lower interest-rate, I’m not sure what might be the better path, and hoping someone here can offer helpful direction.

The TSP loan I can receive, it’s currently at 4%, by the bank loan is currently being offered at 6%. I have an excellent credit score and no other debts outside of a mortgage, and the terms to pay back both are identical.

Is there simply a case of 4% being a little late, and there for being the better option? Or, since these funds will be removed from the TSP and paid back at a later date, would it be best to leave that money in the account and use the bank loan at 6%?
by thethinker
Tue Aug 15, 2023 6:30 am
Forum: Personal Finance (Not Investing)
Topic: TSP Loan Questions
Replies: 10
Views: 1042

Re: TSP Loan Questions

I’m paying the loan interest back to myself and not a bank, but in this case, does that mean the interest payments are more or less in a taxable account rather than tax advantaged? Because I think the money I’m paying back to my TSP for the loan is after tax dollars. If that’s true, then the money is taxed going in and out. Do I have this correct?

Is there a similar way to take a loan out against a personal ROTH account so the interest going back into the account will still grow tax free ?
by thethinker
Mon Aug 14, 2023 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Loan Questions
Replies: 10
Views: 1042

Re: TSP Loan Questions

ChrisC wrote: Mon Aug 14, 2023 7:17 pm Can’t you just rebalance the account to place all funds in the G fund a day or two before the TSP funds are advanced for the loan, and then after loan proceeds are advanced to you then rebalance to your preferred allocation? This way you’re essentially taking out a loan from the G fund and paying it back with payments directed to your investment goals.
:oops:

Yeah that’s easier. Thanks for that advice.
by thethinker
Mon Aug 14, 2023 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Loan Questions
Replies: 10
Views: 1042

Re: TSP Loan Questions

petulant wrote: Mon Aug 14, 2023 3:56 pm If you have the money in the G Fund then it is a no-brainer source of liquidity.

If it would be in the C Fund or similar, the true cost of the debt is the opportunity cost on the fund gains, maybe 7-8%.
It’s all in the L fund

Is there a way I could effectively take this out of the G fund? by adding a little extra money in to see C, S and be a little overweight in equities until I repay the loan?
by thethinker
Mon Aug 14, 2023 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Loan Questions
Replies: 10
Views: 1042

TSP Loan Questions

Has any BH taken out a TSP loan? There appears to be a $50 one time fee, regardless of the loan amount, and no prepayment penalties. additionally, since the interest rate is going back directly into the TSP, this appears to be a better option compared to a bank loan, with higher interest rates, that are paid to the bank. While there are like pros and cons of this type of loan it appears to have a lot of Pros when compared to other personal loans, even for someone with an excellent credit score and no other debt (making it easier to get a bank loan). Understandably, there is a potential loss of compounding, if the funds inside the TSP increase. But knowing this money will be paid back into the TSP over a few years does make this different th...
by thethinker
Mon Jan 16, 2023 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Did my i401k terminate in Dec or Jan?
Replies: 9
Views: 782

Re: Did my i401k terminate in Dec or Jan?

The date of complete distribution is the date the 2nd sweep out left your 401k account and the account balance was $0 at the end of the business day and thereafter. This assumes you don’t receive any dividends later for January. Your account statement should show this activity. Keep the statement as part of your 401k termination file. As far as the incorrect box checked on your 2021 Form 5500-EZ, my non-expert opinion is that it’s a minor error. As it’s past the 2021 filing deadline, I personally would not file an amended 2021 Form 5500-EZ for a minor error and open my plan up to the possibility of a penalty (I’m not sure if there are). Absolutely a great point to keep that December and January statement as an extra print out to store with...
by thethinker
Mon Jan 16, 2023 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Did my i401k terminate in Dec or Jan?
Replies: 9
Views: 782

Re: Did my i401k terminate in Dec or Jan?

HomeStretch wrote: Mon Jan 16, 2023 8:00 am The Instructions to Form 5500-EZ say to use the date plan assets were completely distributed. For your plan that would be the date the dividends were distributed in Jan. 2023 (assuming the plan receives $0 Jan. Dividends at the end of the month).
Thanks for that help. Does the date assets were completely distributed mean the date fidelity sent the check to my current 401k plan or the date the money went into my current plan?

It might be a stretch but do you have any thoughts as to how big of a problem I did or didn’t cause by accidentally checking box 1a (above in red)?
by thethinker
Mon Jan 16, 2023 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Did my i401k terminate in Dec or Jan?
Replies: 9
Views: 782

Re: Did my i401k terminate in Dec or Jan?

OP, look at your Jan. 2023 Fidelity 401k account activity online to see how Fidelity handled this. My guess is that you will probably see: (1) the dividends deposited to the account in late December or early January, and (2) a second distribution in January 2023 for the sweep out of the dividends. I don’t think Fidelity would just mail a December dividend check to your employer 401k plan and bypass recording this activity through your Solo 401k account. The plan was not visible after logging into fidelity since mid December, which I assume has been the case since my termination date. I will call fidelity and expect they can answer this question for me. The date a plan terminates and the date a terminated plan’s assets are completely distri...
by thethinker
Mon Jan 16, 2023 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Did my i401k terminate in Dec or Jan?
Replies: 9
Views: 782

Re: Did my i401k terminate in Dec or Jan?

In early/mid Dec I signed paperwork for fidelity to terminate my i401k plan and make a direct rollover to my current w2 employer’s plan. This all went well the plan balance went to $0 and was terminated before the end of Dec. my entire balance was also fully rolled into my current plan before the end of Dec. However I was just notified this week by fidelity that they recently mailed a small amount of money to my direct rollover. I inquired and this amount was a dividend I was owed but had not been credited to my account at the time of my direct rollover. So did my plan terminate in December or January? I’m close to filing my final 5500ez but glad I didn’t yet in case my plan didn’t technically terminate in mid December as I was planing to ...
by thethinker
Sun Jan 15, 2023 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Did my i401k terminate in Dec or Jan?
Replies: 9
Views: 782

Did my i401k terminate in Dec or Jan?

In early/mid Dec I signed paperwork for fidelity to terminate my i401k plan and make a direct rollover to my current w2 employer’s plan. This all went well the plan balance went to $0 and was terminated before the end of Dec. my entire balance was also fully rolled into my current plan before the end of Dec. However I was just notified this week by fidelity that they recently mailed a small amount of money to my direct rollover. I inquired and this amount was a dividend I was owed but had not been credited to my account at the time of my direct rollover. So did my plan terminate in December or January? I’m close to filing my final 5500ez but glad I didn’t yet in case my plan didn’t technically terminate in mid December as I was planing to i...
by thethinker
Sun Jan 15, 2023 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Direct rollover of i401k ?
Replies: 5
Views: 449

Re: Direct rollover of i401k ?

If your plan termination date is after 12/31/22, you need to file both an annual Form 5500-EZ (if the 12/31/22 plan assets > $250k) by 7/31/23 and a final Form 5500-EZ when terminated/plan assets are $0 by the end of the 7th calendar month following the plan termination date. Consider using EFAST2 to file as it performs edit checks on the pre-submission and you receive proof-of-filing. Keep this submission proof, copy of Form 5500-EZ as-filed and the plan termination notice in your files in case the plan is ever audited. Search the forum for a couple of 2022 threads about filing a final Form 5500-EZ. In addition to toddthebod ’s comments, the # of participants at plan-end must be 0. Thank you that’s a great reminder about 0 plan end partic...
by thethinker
Sun Jan 15, 2023 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Direct rollover of i401k ?
Replies: 5
Views: 449

Re: Direct rollover of i401k ?

Must there be any type of document I’d need to formally create and sign if I directly rollover a past i401k for which I was the only employee ever, into a current new job’s company retirement plan ? Is there a special form I must file with the IRS other than another 5500-EZ? I didn’t notice a specific box to check when terminating the plan, have I missed something? Or do I only list the End date in part 1 as my plan termination date rather than list Dec 31st . . And list $0 for end of year balance? Is there any other way I need to indicate this i401k plan has terminated? There is a box right at the top (Part I, line A, box 3) of the paper form for "final return." I haven't looked at efast since last year, but I'm sure there's the...
by thethinker
Sun Jan 15, 2023 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Direct rollover of i401k ?
Replies: 5
Views: 449

Direct rollover of i401k ?

Must there be any type of document I’d need to formally create and sign if I directly rollover a past i401k for which I was the only employee ever, into a current new job’s company retirement plan ?

Is there a special form I must file with the IRS other than another 5500-EZ? I didn’t notice a specific box to check when terminating the plan, have I missed something? Or do I only list the End date in part 1 as my plan termination date rather than list Dec 31st . . And list $0 for end of year balance? Is there any other way I need to indicate this i401k plan has terminated?
by thethinker
Fri Jan 13, 2023 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Investment reading material advice (2 different people)
Replies: 4
Views: 378

Investment reading material advice (2 different people)

I’m looking for book recommendations, or better yet, something short and online to share with two different people in my life. One is a close friend who’s successful in their career and making 6-figures but continues to pay fees to brokers for investment advice and constant buying and selling to try and beat the market. I know they won’t sit down with a book as an initial way of contemplating a change with this investment path but I’d like to at least shed some light on what BHs do and present them with this option The Other is a nephew who’s new in his career after school and he’s not saving anything outside of a checking account. He might spend more time with a quality book but something short and online might work best for him too. He ex...
by thethinker
Fri Jan 06, 2023 9:43 am
Forum: Personal Consumer Issues
Topic: Home Security device?
Replies: 18
Views: 1426

Re: Home Security device?

arf1410 wrote: Wed Jan 04, 2023 1:20 pm You need to first determine what your goal is, more specifically than "peace of mind"

- Prevent a burglar from gaining access?
-monitor your home when away?
-scare off an in-progress intruder?
-other?

Scare off & prevent
by thethinker
Wed Jan 04, 2023 5:09 am
Forum: Personal Consumer Issues
Topic: Home Security device?
Replies: 18
Views: 1426

Home Security device?

We haven’t come across much of a need for a home security system as we have a dog that barks all night at noises and the neighborhood hasn’t had any known issues for all our years living there. But, as happens when following local news or news of any kind, people become inundated with the rare negative events and a neighboring town has had cars broken into over night. I use the term broken into loosely though as all the cars accessed were unlocked and none actually broken into but the thought of people walking around driveways at night has my spouse on alert. And if I’m being honest that doesn’t excite me much either. For peace of mind in the home, we’ve decided to get some type of alarm system. Any alarm system recommendations out there?
by thethinker
Sun Jan 01, 2023 9:37 am
Forum: Personal Investments
Topic: Anyone buying I-bonds today?
Replies: 85
Views: 12370

Re: Anyone buying I-bonds today?

While I realize the order won’t be processed today. Has anyone else been waiting for the calendar year to change so more ibonds can be purchased? If so, is there any reason not [/b] to place the buy order today? Happy new year :sharebeer Nobody is buying I-bonds today. Everyone will calculate the last possible day they can buy while earning the most interest in the meantime. Some will be wrong by a day of course and end up purchasing on the worst possible day in February, and that will ruin the rest of 2023 for them. Well not as much as entering an order to buy today would. Would you please explain that specific calculation to a newbie? I don’t believe anyone is referring to a complex mathematical calculation- but rather just figuring out ...
by thethinker
Sun Jan 01, 2023 8:17 am
Forum: Personal Investments
Topic: Anyone buying I-bonds today?
Replies: 85
Views: 12370

Re: Anyone buying I-bonds today?

tibbitts wrote: Sun Jan 01, 2023 8:04 am
thethinker wrote: Sun Jan 01, 2023 7:57 am While I realize the order won’t be processed today. Has anyone else been waiting for the calendar year to change so more ibonds can be purchased? If so, is there any reason not to place the buy order today?

Happy new year :sharebeer
Nobody is buying I-bonds today. Everyone will calculate the last possible day they can buy while earning the most interest in the meantime. Some will be wrong by a day of course and end up purchasing on the worst possible day in February, and that will ruin the rest of 2023 for them. Well not as much as entering an order to buy today would.
Would you please explain that specific calculation to a newbie?
by thethinker
Sun Jan 01, 2023 8:14 am
Forum: Personal Investments
Topic: Anyone buying I-bonds today?
Replies: 85
Views: 12370

Re: Anyone buying I-bonds today?

dogagility wrote: Sun Jan 01, 2023 7:59 am Wait to buy until the end of the month to make $30 off of the $10,000?

Happy New Year!
I only bought ibonds for the first time last year. Could you explain the reason $30 extra is made in 30 days
by thethinker
Sun Jan 01, 2023 8:10 am
Forum: Personal Investments
Topic: Anyone buying I-bonds today?
Replies: 85
Views: 12370

Re: Anyone buying I-bonds today?

sailaway wrote: Sun Jan 01, 2023 7:59 am I do not foresee having the cash to buy ibonds at any point this year. On the plus side, I see a lot more of my husband these days!!
:beer

That’s even better!
by thethinker
Sun Jan 01, 2023 7:57 am
Forum: Personal Investments
Topic: Anyone buying I-bonds today?
Replies: 85
Views: 12370

Anyone buying I-bonds today?

While I realize the order won’t be processed today. Has anyone else been waiting for the calendar year to change so more ibonds can be purchased? If so, is there any reason not to place the buy order today?

Happy new year :sharebeer
by thethinker
Sun Jan 01, 2023 6:37 am
Forum: Personal Consumer Issues
Topic: Is Bank Account Churning safe/possible?
Replies: 14
Views: 1849

Is Bank Account Churning safe/possible?

I have read (both on and off this forum) about people who spend time churning credit cards to obtain bonuses. In those instances though it sounds like people have to follow rules about how many cards they can open and how long they have to wait and open new cards. Also I think there’s a risk of altering a credit score.

But, what about churning checking accounts? Is that something people do?

I don’t actually want to do this as a side hustle but I noticed three great local bank offers that I’d like to obtain, just as a one-time-churn. And my plan would be to close them after promotion ends as I don’t want to have 4 checking accounts. Is this possible? Is there any risk/harm? Has anyone done this before?
by thethinker
Thu Dec 29, 2022 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Am I too late for long term gain in new taxable act?
Replies: 2
Views: 349

Am I too late for long term gain in new taxable act?

If I opened an account today (Thur Dec 29 in 2022) and also today purchased the total us index fund/etf, is it possible for me to hold this fund long enough to qualify for long term cap gains before the end of 2023?

I noticed that Dec 29 in 2023 is a Friday and the 30th is a Saturday.

I only ask because I just realized it’s likely I’ll be in the 0% cap gains bracket for long term gains in 2023 but won’t likely be there in 2024.
by thethinker
Wed Dec 28, 2022 9:18 pm
Forum: Investing - Theory, News & General
Topic: Who should Not tax-loss-harvest? (Newbie)
Replies: 9
Views: 1975

Re: Who should Not tax-loss-harvest? (Newbie)

Flobes wrote: Wed Dec 28, 2022 7:13 pm
thethinker wrote: Wed Dec 28, 2022 6:54 pm (Am I correct that any tax loss harvesting over $3000 will be added to one’s AGI which might increase their tax bracket?)
No, you are not correct. Your are taxed on income and gains, not losses.
I used poor terminology. Thanks for such a helpful reply.

If a $3000 gain and a $3000 loss were transacted at the same time, I think that would result in no extra tax owed and no change to AGI. But what if $5000 was solid in gains and $5000 in losses in a given year, while still in 0% long term capital gains, would that result in an increase in AGI since it exceeds the $3000? And am I correct that it would also result in an increase in cap gains tax if this person was in the 15% cap gains bracket?
by thethinker
Wed Dec 28, 2022 6:54 pm
Forum: Investing - Theory, News & General
Topic: Who should Not tax-loss-harvest? (Newbie)
Replies: 9
Views: 1975

Who should Not tax-loss-harvest? (Newbie)

I have been reading about tax loss harvesting for the past few days, and it appears this strategy is most helpful when harvesting a loss of $3000 or less in a given year, as (I believe) this amount can be deducted both from capital gains, tax and regular income tax. It appears many people who discuss tax loss harvesting on this form, or at a minimum ping 15% in long-term capital gains tax but for someone that currently is it a 0% long-term capital gains bracket, are there scenarios that make it advantageous to tax loss harvesting any more than $3000 any given year? (Am I correct that any tax loss harvesting over $3000 will be added to one’s AGI which might increase their tax bracket?) On a related but slightly opposite version of this quest...
by thethinker
Tue Dec 27, 2022 7:53 am
Forum: Personal Finance (Not Investing)
Topic: 5500 Ez for a rollover?
Replies: 19
Views: 1211

Re: 5500 Ez for a rollover?

I was filling out the 5500 Ez form for a i401k account and most recently filed the paperwork in May 2022. This month I rolled that i401k into my new employer’s retirement plan. Do I need to fill out a new 5500 ez form after this rollover? Assuming that you did, in fact, terminate the plan you would need to file a final 5500-EZ for 2022 in addition to the regular annual 5500-EZ you filed for 2021. I believe it was a rollover with termination. And it sounds like the 5500ez form should be filled out in 2023 for 2022 year, right? Will I likely still have to wait a few months until my 2022 i401k form/information is sent to me? And on that firm it sounds like I’m notifying the irs that my i401k plan was terminated and rolled over, so they know n...
by thethinker
Mon Dec 26, 2022 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: 5500 Ez for a rollover?
Replies: 19
Views: 1211

Re: 5500 Ez for a rollover?

I was filling out the 5500 Ez form for a i401k account and most recently filed the paperwork in May 2022. This month I rolled that i401k into my new employer’s retirement plan. Do I need to fill out a new 5500 ez form after this rollover? Assuming that you did, in fact, terminate the plan you would need to file a final 5500-EZ for 2022 in addition to the regular annual 5500-EZ you filed for 2021. I believe it was a rollover with termination. And it sounds like the 5500ez form should be filled out in 2023 for 2022 year, right? Will I likely still have to wait a few months until my 2022 i401k form/information is sent to me? And on that firm it sounds like I’m notifying the irs that my i401k plan was terminated and rolled over, so they know n...
by thethinker
Mon Dec 26, 2022 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: 5500 Ez for a rollover?
Replies: 19
Views: 1211

Re: 5500 Ez for a rollover?

I was filling out the 5500 Ez form for a i401k account and most recently filed the paperwork in May 2022. This month I rolled that i401k into my new employer’s retirement plan. Do I need to fill out a new 5500 ez form after this rollover? Assuming that you did, in fact, terminate the plan you would need to file a final 5500-EZ for 2022 in addition to the regular annual 5500-EZ you filed for 2021. I believe it was a rollover with termination. And it sounds like the 5500ez form should be filled out in 2023 for 2022 year, right? Will I likely still have to wait a few months until my 2022 i401k form/information is sent to me? And on that firm it sounds like I’m notifying the irs that my i401k plan was terminated and rolled over, so they know n...
by thethinker
Sun Dec 25, 2022 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: 5500 Ez for a rollover?
Replies: 19
Views: 1211

5500 Ez for a rollover?

I was filling out the 5500 Ez form for a i401k account and most recently filed the paperwork in May 2022.

This month I rolled that i401k into my new employer’s retirement plan.

Do I need to fill out a new 5500 ez form after this rollover?
by thethinker
Fri Dec 23, 2022 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Legal Zoom for LLC?
Replies: 21
Views: 2093

Re: Legal Zoom for LLC?

duplicate post
by thethinker
Mon Dec 19, 2022 1:15 pm
Forum: Personal Investments
Topic: Where/How to invest in non tax advantage account?
Replies: 18
Views: 2558

Re: Where/How to invest in non tax advantage account?

retiredjg wrote: Sat Dec 17, 2022 7:08 pm I would invest a taxable account in a total stock index and/or a total international index, and adjust the rest of the portfolio accordingly.
Thank you